Total pension liability at fiscal year end for 100 public plans was an aggregate $4.72 trillion, but a report from Milliman says it could be higher. (Photo: Shutterstock)

Among the 100 largest public pensions, a third have reduced their interest rate assumptions.

That’s according to Milliman’s 2017 Public Pension Funding Study, which also finds that there’s a 79-basis-point gap between the sponsor-reported discount rate and independently-determined rate assumptions—indicating that further reductions are likely.

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